Smart Bridge Market | Latest Innovations, Drivers and Industry Key Events

Smart bridges are technically advance bridges, which alerts the maintenance department for any uncertainties such as issues with the structure, which could reduce the risk of collapsing, prior to their occurrence. Real-time monitoring and inspection system for bridge health condition is one of the major factors for growth of the smart bridge market.
Increasing investment for smart cities is one of the major factor for growth of the market. For instance, according to the Indian government Union Budget 2018-19, the government has selected 99 cities under the smart city mission and will provide a fund of US$ 3.1billion for the development of the cities. Hence, this increasing funding for smart cities have also accelerated growth of the smart bridges market.

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The main key players in the industry are-
Siemens AG, International Business Machines Corporation, Honeywell International Inc., Cisco Systems, Inc., Kapsch TrafficCom AG, Huawei Technologies Co., Ltd, Alcatel Lucent S.A., Indra Sistemas, S.A, and LORD Corporation.

Can the country of specific interest be added?
Currently, the research report pays particular attention to the following regions:
North America (United States, Canada, Mexico), Europe (Germany, United Kingdom, France, Italy, Russia, Spain, etc.), South America (Brazil, Argentina, etc.) and Middle East and Africa (Saudi Arabia, South Africa, etc.)

Can we add or profile a new company according to our needs?
Yes, we can add or profile a new company according to customer needs in the report. Final confirmation should be provided by the research team depending on the difficulty of the investigation.
** The availability of data will be confirmed by research in the case of a private company. Up to 3 players can be added at no additional cost.

Increasing sales of electric vehicle plays a major role in growth of the smart bridge market:

Increasing sales of electric vehicle is one of the factors for growth of the smart bridge market. According to Coherent Market Insights' analysis, around 962 thousand units of electric cars have been sold, globally in 2017 up from 695 thousand units in 2016. This increasing sale of electric cars has led to high demand for charging these vehicles while driving. This has led to high demand for smart roads and smart bridges.

Based on technology, condition monitoring systems segment held the dominant position in the market:

Condition monitoring systems segment held the dominant position in the smart bridge market in 2017 and is projected to retain its dominance throughout the forecast period. Increasing demand for reducing maintenance and testing cost without compromising the structural integrity of the bridge is expected to be a factor for growth of the segment. Moreover, transportation & communication systems segment is projected to exhibit the highest CAGR in the forecast period. Increasing vehicle traffic is one of the major factor for growth of the transportation & communication system segment.

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